Keith Jensen - 25 Aug 2022 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Role
CFO & Chief Accounting Officer
Signature
/s/ Robert Turner, by power of attorney
Issuer symbol
FTNT
Transactions as of
25 Aug 2022
Net transactions value
-$1,041,983
Form type
4
Filing time
26 Aug 2022, 16:33:53 UTC
Previous filing
18 Aug 2022
Next filing
03 Nov 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTNT Common Stock Options Exercise $248,937 +14,730 +324% $16.90 19,271 25 Aug 2022 Direct F1
transaction FTNT Common Stock Options Exercise $291,517 +12,730 +66% $22.90 32,001 25 Aug 2022 Direct F1
transaction FTNT Common Stock Options Exercise $411,992 +11,980 +37% $34.39 43,981 25 Aug 2022 Direct F1
transaction FTNT Common Stock Sale $1,994,430 -39,440 -90% $50.57 4,541 25 Aug 2022 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FTNT Stock Option (right to buy) Options Exercise $0 -14,730 -33% $0.000000 29,465 25 Aug 2022 Common Stock 14,730 $16.90 Direct F1, F3
transaction FTNT Stock Option (right to buy) Options Exercise $0 -12,730 -14% $0.000000 76,390 25 Aug 2022 Common Stock 12,730 $22.90 Direct F1, F4
transaction FTNT Stock Option (right to buy) Options Exercise $0 -11,980 -9.1% $0.000000 119,825 25 Aug 2022 Common Stock 11,980 $34.39 Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
F2 Represents the weighted average sale price. The lowest price at which shares were sold was $50.21 and the highest price at which shares were sold was $50.97. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the range set forth herein.
F3 1/4 of the shares subject to the option vested on February 21, 2020 and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F4 1/4 of the shares subject to the option vested on February 21, 2021 and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F5 1/4 of the shares subject to the option vested on February 19, 2022, and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

Remarks:

The Reporting Person's holdings have been adjusted to reflect the 5-for-1 stock split of the Issuer's common stock that occurred on June 22, 2022.